• Revenues from ordinary activities increased 11% to $5.56 million
• Profit for the period attributable to members increased 122% to $1.35 million
• Net cash inflows from operating activities increased 28% to $1.90 million

Volt Power Group Ltd reported a 122% increase in profit for the period attributable to members to $1.35 million for the year ended 31 December 2024. Revenues from ordinary activities increased 11% to $5.56 million, reflecting the ongoing capabilities of the Wescone W300 crusher solution and commercialisation uptake of the EcoQuip Mobile Solar Light and Communications Tower solution. The company experienced net cash inflows from operating activities of $1.90 million, up 28% from the prior year. The Wescone business continued to service its Tier 1 client base and distribution partners across Australia, North America and Africa, while also responding to new tender and enquiry opportunities. The company secured patent rights for the Wescone W300 Series 4 crusher in additional markets and completed an R&D program to enhance the crusher's ability to process higher moisture ores. The EcoQuip business deployed 55 new Mobile Solar Light and Communications Towers at the Chevron-operated Gorgon natural gas project on Barrow Island, and signed a plant hire contract with Thiess to deploy the towers across its global contract mining operations. EcoQuip also conducted successful demonstration trials with other potential customers.The company's ATEN waste heat to power technology advanced with the completion of a concept study for the Western Australian government-owned energy retailer and generator, Synergy. The study highlighted the technical and commercial viability of installing the ATEN system at an existing Synergy gas-fired power station, with the ATEN system delivering a lower levelized cost of energy compared to a solar and battery storage equivalent.

The company did not provide any specific forward-looking financial guidance. However, the announcement highlights the strong performance and growth potential of the Wescone and EcoQuip business units, as well as the advancement of the ATEN waste heat to power technology.

The company is highly focused on expanding EcoQuip's operational footprint in the US market during 2025, with the potential Chevron opportunity in the USA described as significant. The company is also negotiating with BHP to expand the deployment of EcoQuip's Mobile Solar Light and Communications Towers at its Pilbara iron ore operations, which could lead to a fleet of up to 200-300 units.